The global insurtech market is developing due to rapid digital change in the insurance industry, rising smartphone and tablet use, and digital insurance policy distribution and marketing. Zion Market Research has published a new research report which states that the global Insurtech Market size was valued at USD 5.48 billion in 2023 and is predicted to reach USD 146.43 billion by the end of 2030. Insurtech is a novel insurance technology that boosts competition, simplifies policy administration, and enhances the customer experience. The major factors that are spurring the growth of the global insurtech market include rapid digital transformation in the insurance industry, rising smartphone and tablet use, and digital insurance policy distribution and marketing.
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